Important Considerations for Exchanging Your Old Gold Jewellery in India

Gold, in all of its forms, is the most valuable metal. Its unspoiled purity and magnificent motifs lend a subtle glitter to any event. In certain cultures, a piece of pure gold is considered a proud family heirloom passed down through generations. However, it is recommended to exchange gold to enhance its design and increase its longevity and robustness.

Ankit Gala, the Managing Director of Antara Jewellery, shares valuable advice on what to consider before exchanging gold.

Choose a Reputable Jeweller and Check their Policy and Rates

When investing in gold jewellery, it’s crucial to choose a brand that is recognized for its reliability. Look for hallmarked jewels, as they ensure high resale value and add enchantment to any occasion.

By following these careful steps, you can be certain that your gold exchange will result in a beautiful piece of jewellery. Each jeweller may have different policies regarding the exchange of gold and diamond jewellery. Before finalizing the exchange, it’s advisable to check the market trend and stay updated with current gold rates. Seek a detailed explanation from the staff regarding the calculation process and any applicable charges.

Carry the Original Gold Invoice and Certificate

Whenever possible, bring the gold certificate along, as it aids in determining the weight and purity of the gold. Keeping a record of all your invoices not only adds credibility to the gold, but also helps ensure accuracy in the weight measurement during the exchange process.

Check the Gross Weight and Net Weight of the Jewellery on the Weighing Scale

When selecting which pieces of gold to exchange, opt for items without stones or other decorative elements. It’s best to trade or remove valuable stones before exchanging gold. This strategy ensures that you get the highest value for your money during the exchange process.

Whether you are purchasing gold jewellery or exchanging gold, it’s important to look for a hallmark that indicates the metal’s purity. To simplify the buying and selling process, Indian law now requires every piece of gold jewellery to bear a unique HUID number, which helps verify its authenticity.

Opt for Hallmarked Jewellery When Exchanging Old Gold

Whether you are purchasing gold jewellery or exchanging gold, always prioritize hallmarked jewellery, as it guarantees the purity of the metal. This step eases the process of buying and selling gold, making it less stressful. The Indian law mandates clear stamp of cartage on each gold item, further ensuring authenticity.